Vipshop Holdings (VIPS): Strong Customer Growth Drives Upside - Jefferies
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Jefferies analyst, Jessie Guo, reiterated his Buy rating on shares of Vipshop Holdings (NYSE: VIPS) after the company reported strong 2Q16 results with revenue 5% above high-end of guidance driven by strong growth in number of active customers and orders. Non-GAAP net profit beat consensus by 7.5%. Vipshop guides 3Q16 revenue at RMB 11.9-12.4bn (+37-43% yoy). The midpoint is 2%/3.4% higher than consensus.
No change to the price target of $16 ahead of the call.
Shares of Vipshop Holdings closed at $16.01 yesterday.
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